BDO Stoy Hayward appointed administrator of Real Hotel Company
Aim-listed budget hotel operator calls in administrators
BDO Stoy Hayward has been appointed administrator of the Real Hotel Group’s
trading subsidiary, the Real Hotel Company, after the collapse of the budget
hotel chain.
The hotel operator, which owns the Purple Hotels, has issued a series of
profit warnings over the past few years.
Trading in the Aim-listed company’s shares has been suspended since January
13, a day after RHG announced a slump in sales in the first seven days of this
month.
In the year to January 2009, RHG’s revenue from continuing operations dipped
7% to £63m. Its previously strong functions division suffered as the economic
crisis forced the cancellation of Christmas parties .
Real Hotel also runs Comfort Inn, Quality and Clarion hotels, licensed from
Choice Hotels International and the New Connaught Rooms in London.
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